Gold gallops on festival buying frenzy, global buoyancy

Gold prices staged a smart recovery after a brief correction at the bullion bourses here on emergence of frantic buying from jewellery traders and stockists in the face of highly bullish overseas tone.

Gold prices staged a smart recovery after a brief correction at the bullion bourses here on emergence of frantic buying from jewellery traders and stockists in the face of highly bullish overseas tone. (Reuters)

Gold prices staged a smart recovery after a brief correction at the bullion bourses here on emergence of frantic buying from jewellery traders and stockists in the face of highly bullish overseas tone.

The domestic market got a boost as sentiment glittered after a strong wave of buying swept overseas markets, mainly triggered by bargain hunting along side a steep fall in equities worldwide trade.

Swelling festive and wedding-related off take, too, supported the upsurge.

Elsewhere, silver also regained lost ground to close above the key significant Rs 36,000 mark due to robust industrial demand.